US Customers Holding On To $13.4bn Worth Of Old iPhones

What do you guys do with your old phone when you get a new phone? Do you trade them in so that you can purchase your new phone at a cheaper price? Do you try to sell off your old phone on eBay or Craigslist? Do you give it to a family member? Or do you chuck it into a drawer and just forget about it until it’s time to spring clean? Well it seems that hoarding old phones is a popular option, as discovered by the annual Mobile Mountain Study in which it was found that half of US consumers are still hoarding their old iPhones in cupboards or drawers, with the total value of these old iPhones being pegged at $13.4 billion.

According to the study, the reason behind Apple users hoarding older iPhones is because they are not aware that they can trade-in their older device for a newer one to help shave off the costs of a new iPhone. Keir McConomy, founder of SellCell.com, “Americans are still unaware of the money they can make by trading in their old mobile.” The survey also found that those who haven’t sold or traded-in their phones either gave them away to friends, family members, or partners, or simply threw them away at 20% and 9% respectively. The survey also suggested that women are more likely to give away their old phones to family members or friends than men at 22.5% versus 18%.

Other reasons as to why some people might still be holding onto their old phones include the ever popular “too lazy” excuse to get rid of them at 17%, while 40% say they want to keep it around as a spare, and 36% claim that they don’t know what else to do with them. What do you guys think? What’s your reason for holding onto your old phone?